Sulphates; of Magnesium Price in Japan - 2023

Sulphates; of Magnesium Price in Japan (FOB) - 2023

In July 2023, the average sulphates; of magnesium export price amounted to $3,410 per ton, shrinking by -9.4% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in September 2022 an increase of 30% against the previous month. As a result, the export price reached the peak level of $4,596 per ton. From October 2022 to July 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Indonesia ($4,358 per ton), while the average price for exports to China ($2,586 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphates; of Magnesium Price in Japan (CIF) - 2023

In July 2023, the average sulphates; of magnesium import price amounted to $325 per ton, which is down by -1.9% against the previous month. Over the period under review, the import price recorded a mild setback. The growth pace was the most rapid in April 2023 when the average import price increased by 20% m-o-m. Over the period under review, average import prices reached the maximum at $457 per ton in August 2022; however, from September 2022 to July 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($780 per ton), while the price for China totaled $317 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Germany (+1.5%).

Sulphates; of Magnesium Exports in Japan

In 2022, approx. 2.8K tons of sulphates; of magnesia were exported from Japan; shrinking by -5.6% compared with the year before. The total export volume increased at an average annual rate of +1.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. As a result, the exports reached the peak of 3K tons, and then shrank in the following year.

In value terms, sulphates; of magnesium exports declined to $10M in 2022. The total export value increased at an average annual rate of +5.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 with an increase of 12%.

Export of Sulphates; of Magnesium in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3.0	4.0	4.5	4.3	12.7%
South Korea	1.9	2.0	2.1	2.0	1.7%
China	1.6	1.6	1.7	1.6	0.0%
India	0.5	0.6	0.8	0.8	17.0%
Thailand	0.8	0.6	0.6	0.6	-9.1%
Taiwan (Chinese)	0.3	0.2	0.2	0.2	-12.6%
Germany	0.4	0.1	0.1	0.2	-20.6%
Others	0.4	0.9	0.8	0.7	20.5%
Total	8.9	10.0	10.8	10.4	5.3%

Top Export Markets for Sulphates; of Magnesium from Japan in 2022:

United States (1172.8 tons)
China (509.1 tons)
South Korea (491.2 tons)
India (208.1 tons)
Thailand (188.7 tons)
Taiwan (Chinese) (113.3 tons)
Germany (47.1 tons)

Sulphates; of Magnesium Imports in Japan

In 2022, after two years of decline, there was growth in purchases abroad of sulphates; of magnesia, when their volume increased by 3.9% to 13K tons. Overall, imports, however, continue to indicate a perceptible descent.

In value terms, sulphates; of magnesium imports fell to $4.2M in 2022. The total import value increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 31%. As a result, imports reached the peak of $4.8M, and then reduced in the following year.